Oracle NetSuite has announced an upgrade for its business software platform designed to help companies navigate complex sales processes with greater ease.
Launched at SuiteWorld 2022, NetSuite CPQ aims to make it simpler for sales teams to configure, price and quote (CPQ) their products to a high degree of accuracy.
By introducing a greater level of efficiency to the pricing process, NetSuite hopes to save customers from time-consuming administrative tasks (such as double-checking product configurations) and increase profitability.
Working hand-in-hand with the company’s CRM, ERP and ecommerce products, NetSuite CPQ supports a number of different processes across the sales cycle, starting with configuration.
The service lets users set up customizable business rules that ensure all product configurations are accurate, while still allowing salespeople to work tightly to a customer’s unique spec. During the configuration process, pricing will be updated automatically as changes are made, to head off potential confusion.
Also bundled with NetSuite CPQ is a new proposal builder, which gives sales teams access to templates that can be used to develop branded proposals, supplied alongside quotes to offer additional color and clarity to buyers.
Lastly, the service includes measures to help companies that sell a high volume of products surface the most relevant SKUs and an automated tool that draws in data from the configuration process to generate a comprehensive bill of materials (BOM), introducing greater clarity around cost.
“Empowering sales organisations with the right tools is essential to closing deals faster and meeting ever-increasing customer expectations,” said Evan Goldberg, founder and EVP, Oracle NetSuite.
“NetSuite CPQ will help our customers quickly configure their product offerings and generate accurate proposals so that they can streamline revenue processes and improve overall business outcomes.”
NetSuite CPQ is available immediately in North America as an add-on, and will roll out in other territories at a later date.